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The Importance of Academic New Ventures for Sustainable Regional Development

Author

Listed:
  • Aleksandar Vekic

    (University of Novi Sad, Novi Sad, Republic of Serbia)

  • Vladimir Djakovic

    (University of Novi Sad, Novi Sad, Republic of Serbia)

  • Jelena Borocki

    (University of Novi Sad, Novi Sad, Republic of Serbia)

  • Wlodzimierz Sroka

    (WSB University, D¹browa Górnicza, Poland and North West University, South Africa)

  • Jozsef Popp

    (Szent István University, Gödöllõ, Hungary and North West University, South Africa)

  • Judit Olah

    (University of Debrecen, Institute of Applied Informatics and Logistics, Debrecen, Hungary and North West University, South Africa)

Abstract

Establishment of new entrepreneurial ventures have a direct influence on economic growth of the economy and society of every country. It relates especially to unemployment level and net income of the employees. Given these facts, the two aims of the paper are: 1) presentation of the Innovativeness of 14 countries of South – East Europe region and two additional countries: Poland and Hungary based on their overall ranking(s) as well as Information and Communication Technologies, ICT access and ICT use; and 2) to present development and business performance of academic start-up and spin-off companies in ICT sector which were created by the University of Novi Sad (Serbia) and which allowed it to become a sustainable University. The indicators such as total number of new ventures, number of employees, total revenue and average gross profit margin were used in order to analyse establishment, development and sustainability of academic ICT start-up and spin-off companies. The study shows that sustainable measures, particularly academic start-up and spin-off companies, have a very important role in sustainable economic growth (local, national and regional) and are a significant driver of innovation. They are of key importance for the sustainable development of the University.

Suggested Citation

  • Aleksandar Vekic & Vladimir Djakovic & Jelena Borocki & Wlodzimierz Sroka & Jozsef Popp & Judit Olah, 2020. "The Importance of Academic New Ventures for Sustainable Regional Development," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(54), pages 533-533, April.
    • Handle: RePEc:aes:amfeco:v:22:y:2020:i:54:p:533
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Marcin Lis, 2021. "Higher Education Institutions as Partners in Growing Innovation of Local Economy," Social Sciences, MDPI, vol. 10(8), pages 1-19, August.
    2. Tong Zhang & Zaffar A. Shaikh & Alexei V. Yumashev & Monika Chłąd, 2020. "Applied Model of E-Learning in the Framework of Education for Sustainable Development," Sustainability, MDPI, vol. 12(16), pages 1-15, August.
    3. Shaorui Xu & Yang Chen & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "Green Technology Innovation and High-Quality Economic Development: Spatial Spillover Effect," Prague Economic Papers, Prague University of Economics and Business, vol. 2023(3), pages 292-319.
    4. Jiajia Hao & Chunling Li & Runsen Yuan & Masood Ahmed & Muhammad Asif Khan & Judit Oláh, 2020. "The Influence of the Knowledge-Based Network Structure Hole on Enterprise Innovation Performance: The Threshold Effect of R&D Investment Intensity," Sustainability, MDPI, vol. 12(15), pages 1-17, July.
    5. Fulgence Dominick WARYOBA, 2022. "The effect of information and communication technology on business performance," Romanian Journal of Economics, Institute of National Economy, vol. 55(2(64)), pages 84-102, December.
    6. Olga Pilipczuk, 2021. "Determinants of Managerial Competences Transformation in the Polish Energy Industry," Energies, MDPI, vol. 14(20), pages 1-27, October.

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    More about this item

    Keywords

    Global Innovation Index; Information and Communications Technologies; Innovation; Academic Start-up and Spin-off Companies; Sustainable Measures; Sustainable University.;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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